Latest news with #IndexofEightCoreIndustries
Indian Express
26-05-2025
- Business
- Indian Express
Express view on Index of Eight Core Industries (ICI) for April 2025: If these industries are not growing fast enough, the rest of the economy is unlikely to
The Index of Eight Core Industries (ICI) for April 2025 released by the Department for Promotion of Industry and Internal Trade shows that the monthly growth rate of the index fell to a nine-month low of just 0.5 per cent. In other words, the index grew just 0.5 per cent in April this year over the same month last year. This index comprises the eight most fundamental industrial sectors of the economy — coal, natural gas, crude oil, refinery products (such as petrol and diesel), fertilisers, steel, cement and electricity (with differing weights) — and it maps the volume of production in these industries. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Since these eight industries essentially serve the role of a basic and/or intermediate ingredient in the functioning of the broader economy, this index's health is important to the state of the economy. The performance in April suggests a sharp loss of growth momentum relative to the preceding months. For instance, the index had grown by 4.6 per cent in March. In comparison, data from the index shows that of the eight industries, six experienced a weakness in growth momentum. The worst affected set of industries was refinery products, which incidentally have the highest weightage in the index (almost 30 per cent), as they clocked a negative growth rate (a contraction) of 4.5 per cent; it is the poorest showing since November 2022. Crude oil and fertilisers also witnessed contraction while the electricity index grew by just 1 per cent. Apart from the data for April, also noteworthy was the data for the full financial year that ended in March. In 2024-25, the core industries index grew by 4.5 per cent; this is the slowest increase since the post-pandemic recovery in 2021-22. At one level, the slowdown in April is understandable. The global economy received the shock of President Donald Trump's reciprocal tariffs and the ensuing surge of uncertainty has meant that most economic and financial metrics across the world have shown some impairment. However, the weakness, and especially the sharpness of it, and that too both in April and in the full year data for FY24, points to domestic causes as well. If these eight industries are not growing fast enough, the rest of the economy is unlikely to, either. Given the tepid start to the year, observers such as the Centre for Monitoring Indian Economy (CMIE) are dialling down the forecasts for both the June quarter as well as the full financial year. Readers and policymakers should watch out for two other data sets due to be released in days to come — the IIP and the GDP — to better understand the current state of the economy.
India Gazette
20-05-2025
- Business
- India Gazette
India's core industries output grows 0.5% in April, lowest in 8 months
New Delhi [India], May 20 (ANI): The combined Index of Eight Core Industries (ICI) increased by 0.5 per cent (provisional) in April 2025 as compared to the index in April 2024, the commerce ministry said in a statement Tuesday. According to reports, it is the lowest in 8 months. The production of cement, coal, steel, electricity and natural gas recorded positive growth in April 2025. The Index of Eight Core Industries (ICI) is a key economic indicator in India, measuring the combined and individual performance of eight core industries. The eight core industries are coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The final growth rate of the Index of Eight Core Industries for January 2025 was observed at 5.1 per cent. The cumulative growth rate of ICI from April to March, 2024-25 is 4.5 per cent (provisional) as compared to the corresponding period of last year. The summary of the Index of Eight Core Industries is given below: Coal - Coal production (weight: 10.33 per cent) increased by 3.5 per cent in April 2025 over April 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over the corresponding period of the previous year. Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 2.8 per cent in April 2025 over April 2024. Its cumulative index declined by 2.2 per cent during April to March, 2024-25 over the corresponding period of the previous year. Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 0.4 per cent in April 2025 over April 2024. Its cumulative index declined by 1.2 per cent during April to March, 2024-25 over the corresponding period of the previous year. Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) declined by 4.5 per cent in April 2025 over April, 2024. Its cumulative index increased by 2.8 per cent during April to March, 2024-25 over the corresponding period of the previous year. Fertilisers - Fertiliser production (weight: 2.63 per cent) declined by 4.2 per cent in April 2025 over April 2024. Its cumulative index increased by 2.9 per cent during April to March, 2024-25 over the corresponding period of the previous year. Steel - Steel production (weight: 17.92 per cent) increased by 3.0 per cent in April 2025 over April 2024. Its cumulative index increased by 6.9 per cent during April to March, 2024-25 over the corresponding period of the previous year. Cement - Cement production (weight: 5.37 per cent) increased by 6.7 per cent in April 2025 over April 2024. Its cumulative index increased by 6.3 per cent during April to March, 2024-25 over the corresponding period of the previous year. Electricity - Electricity generation (weight: 19.85 per cent) increased by 1.0 per cent in April 2025 over April 2024. Its cumulative index increased by 5.2 per cent during April to March, 2024-25 over the corresponding period of the previous year. Aditi Nayar, Chief Economist, Head - Research and Outreach, ICRA Ltd, 'The performance of the core sector deteriorated significantly in April 2025, with the YoY growth slumping to an 8-month low of 0.5 per cent in the month from the upward revised 4.6 per cent in March 2025. The deceleration was broad-based, led by six of the eight sectors barring coal and natural gas.' 'Based on the tepid rise in the core sector and the performance of the other available high-frequency indicators, ICRA expects the IIP growth to moderate sharply to 1.0 per cent in April 2025. The healthy growth in non-oil exports may provide an upside, unless the same represents round-tripping of some imports,' Nayar added. (ANI)
Business Standard
20-05-2025
- Business
- Business Standard
Annual core sector growth moderates to 0.50% in April compared to 4.6% in previous month
The combined Index of Eight Core Industries (ICI) increased by 0.5 per cent (provisional) in April, 2025 as compared to the Index in April, 2024. The production of Cement, Coal, Steel, Electricity and Natural Gas recorded positive growth in April, 2025. The ICI measures the combined and individual performance of production of eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP). The latest data marked a sharp moderation compared to previous month when the index had clocked a surge of 4.6%. The final growth rate of Index of Eight Core Industries for January 2025 was observed at 5.1 per cent. The cumulative growth rate of ICI during April to March, 2024-25 is 4.5 per cent (provisional) as compared to the corresponding period of last year. The summary of the Index of Eight Core Industries: Coal - Coal production (weight: 10.33 per cent) increased by 3.5 per cent in April, 2025 over April, 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over corresponding period of the previous year. Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 2.8 per cent in April, 2025 over April, 2024. Its cumulative index declined by 2.2 per cent during April to March, 2024-25 over corresponding period of the previous year. Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 0.4 per cent in April, 2025 over April, 2024. Its cumulative index declined by 1.2 per cent during April to March, 2024-25 over corresponding period of the previous year. Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) declined by 4.5 per cent in April, 2025 over April, 2024. Its cumulative index increased by 2.8 per cent during April to March, 2024-25 over corresponding period of the previous year. Fertilizers - Fertilizer production (weight: 2.63 per cent) declined by 4.2 per cent in April, 2025 over April, 2024. Its cumulative index increased by 2.9 per cent during April to March, 2024-25 over corresponding period of the previous year. Steel - Steel production (weight: 17.92 per cent) increased by 3.0 per cent in April, 2025 over April, 2024. Its cumulative index increased by 6.9 per cent during April to March, 2024-25 over corresponding period of the previous year. Cement - Cement production (weight: 5.37 per cent) increased by 6.7 per cent in April, 2025 over April, 2024. Its cumulative index increased by 6.3 per cent during April to March, 2024-25 over corresponding period of the previous year. Electricity - Electricity generation (weight: 19.85 per cent) increased by 1.0 per cent in April, 2025 over April, 2024. Its cumulative index increased by 5.2 per cent during April to March, 2024-25 over corresponding period of the previous year.
The Print
21-04-2025
- Business
- The Print
Core industries grew 3.6% in March; cement, fertilisers, steel, electricity show positive growth
The production of cement, fertilisers, steel, electricity, coal, and refinery products recorded positive growth in March 2025, according to a statement by the Ministry of Commerce and Industry. New Delhi [India], April 21 (ANI): The combined Index of Eight Core Industries (ICI) increased by 3.8 per cent (provisional) in March 2025 as compared to the Index in March 2024. The ICI measures the combined and individual performance of eight core industries, namely coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The cumulative growth rate of ICI from April to March, 2024-25 is 4.4 per cent (provisional) as compared to the corresponding period of last year. The summary of the Index of Eight Core Industries is given below: Coal – Coal production (weight: 10.33 per cent) increased by 1.6 per cent in March 2025 over March 2024. Its cumulative index increased by 5.1 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.9 per cent in March 2025 over March 2024. Its cumulative index declined by 2.2 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Natural Gas – Natural Gas production (weight: 6.88 per cent) declined by 12.7 per cent in March 2025 over March 2024. Its cumulative index declined by 1.2 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 0.2 per cent in March 2025 over March 2024. Its cumulative index increased by 2.8 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Fertilisers – Fertiliser production (weight: 2.63 per cent) increased by 8.8 per cent in March 2025 over March 2024. Its cumulative index increased by 2.9 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Steel – Steel production (weight: 17.92 per cent) increased by 7.1 per cent in March 2025 over March 2024. Its cumulative index increased by 6.7 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Cement – Cement production (weight: 5.37 per cent) increased by 11.6 per cent in March 2025 over March 2024. Its cumulative index increased by 6.3 per cent during April to March 2024-25 compared to the corresponding period of the previous year. Electricity – Electricity generation (weight: 19.85 per cent) increased by 6.2 per cent in March 2025 over March 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over the corresponding period of the previous year. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Business Standard
21-04-2025
- Business
- Business Standard
Core sector grows by 3.80% on year in March, Cement and Fertilizer output spikes
The combined Index of Eight Core Industries (ICI) increased by 3.8 per cent (provisional) in March, 2025 as compared to the Index in March, 2024. The production of Cement, Fertilizers, Steel, Electricity, Coal and Refinery Products recorded positive growth in March, 2025. The final growth rate of Index of Eight Core Industries for December 2024 was observed at 5.1 per cent. The cumulative growth rate of ICI during April to March, 2024-25 is 4.4 per cent (provisional) as compared to the corresponding period of last year. Coal production (weight: 10.33 per cent) increased by 1.6 per cent in March, 2025 over March, 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over corresponding period of the previous year. Crude Oil production (weight: 8.98 per cent) declined by 1.9 per cent in March, 2025 over March, 2024. Its cumulative index declined by 2.2 per cent during April to March, 2024-25 over corresponding period of the previous year. Natural Gas production (weight: 6.88 per cent) declined by 12.7 per cent in March, 2025 over March, 2024. Its cumulative index declined by 1.2 per cent during April to March, 2024-25 over corresponding period of the previous year. Petroleum Refinery production (weight: 28.04 per cent) increased by 0.2 per cent in March, 2025 over March, 2024. Its cumulative index increased by 2.8 per cent during April to March, 2024-25 over corresponding period of the previous year. Fertilizer production (weight: 2.63 per cent) increased by 8.8 per cent in March, 2025 over March, 2024. Its cumulative index increased by 2.9 per cent during April to March, 2024-25 over corresponding period of the previous year. Steel production (weight: 17.92 per cent) increased by 7.1 per cent in March, 2025 over March, 2024. Its cumulative index increased by 6.7 per cent during April to March, 2024-25 over corresponding period of the previous year. Cement production (weight: 5.37 per cent) increased by 11.6 per cent in March, 2025 over March, 2024. Its cumulative index increased by 6.3 per cent during April to March, 2024-25 over corresponding period of the previous year. Electricity generation (weight: 19.85 per cent) increased by 6.2 per cent in March, 2025 over March, 2024. Its cumulative index increased by 5.1 per cent during April to March, 2024-25 over corresponding period of the previous year.
